Weyburn-Estevan area leads oil-gas lease sale

The June public offering of Crown petroleum and natural gas rights, held on June 1, generated $516,069 in revenue for the province, with the bulk of that coming from the Weyburn-Estevan area.

This public offering was the second of six oil and gas sales scheduled for the 2021-22 fiscal year.

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The Weyburn-Estevan area brought in $438,874 for 16 parcels, totaling 1,519.862 hectares, from the 29 leases posted for the sale.

This compares to $1,631,515, an average of $399.95 per hectare, in the last offering.

The highest bonus bid and dollars per hectare received on a parcel was $226,911, or $1,752 per hectare. This 129.5-ha lease was awarded to Crescent Point Energy, and is located 14 km northwest of Stoughton, within the Viewfield Bakken Oil Pool.

Of the total of 42 parcels posted, 24 parcels received acceptable bids, covering 3,814.76 ha, with an average bonus bid of $135.28 per hectare.